Trading 212 Launches Crypto Trading in Europe, Skips UK for Now
Trading 212 has quietly stepped into crypto trading, giving its European users access to BTC, ETH, Solana and a small basket of other digital assets—while keeping its British audience on the sidelines for now.
The London-based broker’s new crypto service will run through Trading 212 Markets, its Cyprus-regulated unit, and operates as a separate account from its contracts-for-difference platform. The move follows the arrival of Christos Drakos, a former Revolut and ETX Capital executive, who joined last month to head the company’s crypto operations.
Why Cyprus, not the UK
Cyprus is becoming the favoured base for brokers looking to offer spot crypto under European rules. Trading 212’s local arm, Trading 212 Crypto Ltd, secured a Crypto Asset Service Provider licence from the island’s regulator earlier this year, allowing it to roll out digital-asset trading across the bloc.
The UK, meanwhile, remains off-limits for retail spot crypto. The Financial Conduct Authority banned crypto-derivatives in 2021 and has only recently reopened a narrow door for platform-traded notes. Spot crypto platforms still need separate registration under money-laundering laws—a process that has kept many brokers waiting.
Trading 212’s European business has become increasingly significant. The Cypriot operation doubled its revenue to £42.2 million in 2024, while the UK arm—still the group’s powerhouse—generated £150 million. Overall, the company ended the year with £194 million in revenue and £43.7 million in profit, according to filings. The acquisition of Germany’s FXFlat Bank added another £1 million to the top line.
Founded in Bulgaria in 2004 as Avus Capital, Trading 212 moved its headquarters to London in 2013 and has since expanded to Australia and Germany. In Britain, it has been moving away from CFDs to focus on stockbroking and multi-currency accounts, even launching a debit card tied to investment balances.
A broader industry turn
Trading 212’s push mirrors a broader revival of crypto among mainstream brokers. IG Group, the UK’s largest retail broker, has built a spot-crypto offering in partnership with Uphold and recently agreed to acquire the Australian platform Independent Reserve for about A$178 million. CMC Markets continues to serve professional clients with crypto derivatives, while Robinhood is purchaseing Bitstamp for about $200 million, a deal that gives it a regulated global platform footprint.
The return to crypto comes as digital-asset prices recover and new European rules under the Markets in Crypto-Assets Regulation (MiCA) create a uniform framework for licensed providers. Cyprus, with its long experience in cross-border brokerage, has emerged as a testing ground.
Trading 212 hasn’t said whether it will eventually extend spot-crypto trading to the UK or stick with platform-traded products there. For now, the focus is on expanding the new service to European clients and building out the infrastructure it created under the Cypriot licence.
